The market size of global e-recruitment software in 2021 was $29.29 billion, which is expected to reach $47.31 billion by 2028. The growth in the e-recruitment market comprises online recruitment and the digitalization of business processes.
How Is Online Recruitment Software Important To Your Company?
The company priorities and structures are changing pace following the substantial skill gaps in each of the industries. The hiring managers help you find high-quality candidates to fill each role at the workplace. The e-recruitment tool benefits are as follows:
Reduced Time to Hiring
In this resignation-driven job climate, companies face pressure from vacant positions, and internal teams are essential in covering the open roles. The data reveals that recruiting technology maximizes effectiveness and efficiency during the process of hiring. As a result, it helps you free up valuable hours in other profitable business areas.
Better Rates of Retention
The employees have itchy feet in today’s job market and have seen 57% of the knowledge workers open towards new positions in the next year. The high employee turnover has become an expensive issue, and as per Gallup research, the replacement cost of each worker is approximately 1.5 to 2x the annual salary. It is also noticed that recruitment software improves the job retention rate by matching suitable candidates with the right roles to supercharge the satisfaction level of the employees.
Enhanced Experience of Candidates
This e-recruitment software provides you with a positive candidate experience and streamlines the candidates. In addition, it helps you with making updates on the application status and progress. Along with this, the tool provides you with high-quality applicants and helps you to stay ahead of the competitors.
Get Access to Talent Pool
The e-recruitment tool helps you access suitable candidates using AI while reviewing skills and competencies. As a result, it helps you cut down on the time spent behind irrelevant CVs and helps you with making informed decisions at your workplace.
Ethnic Diversity of Candidates
The unconscious bias gets in the way of hiring candidates from different backgrounds, and 28% of the employers admit relying on their respective gut feeling while making hiring decisions. In addition, this recruitment tool helps you overcome unconscious bias by anonymizing data used while making hiring decisions at the workplace.
Easy Collaboration
The hiring decision includes recruiters, line managers, and candidates. Along with this, it also includes directors and senior management, and customer contacts that depend on the role of the candidates recruited at the workplace. As a result, it includes feedback sessions, email communication, and interview scheduling automatically, without any manual intervention.
Speedy Job Postings
The recruitment tool helps you register jobs on the job board and also helps you attract a wide range of job candidates, which you need to post on multiple job sites. Furthermore, it helps you create identical job posts for each of the platforms and also helps you with applications from unsuitable candidates. It, therefore, results in cutting down on manual labor and helps you craft an inclusive and unbiased job description to win the attention of high-caliber candidates.
Focus on Skills
The skill-based hiring helps you with skill assessments practically to measure the candidates and predict job performances. It helps you focus more on the skills and competencies required to accomplish daily activities.
Easy and Simple Tracking
This automated tool helps you log in and access essential details. It helps you offer real-time insights based on the locations and also allows you to get the best quality candidates. Along with this, it helps you track the application rates to measure the success of your recruitment campaigns.
Why Is ATS A Rising Importance to Your Business?
The recruitment department needs to speed up the entire process regarding finding and hiring the right talents to ensure hiring candidates that fit the selected company best. The benefits of the ATS tool are as follows:
Saves Time For Value Added Work
This automated tool helps you save time compared to conventional application processing and hiring procedures. In addition, it helps you eliminate manual postings by helping you filter out irrelevant applications.
Flexible System for Employer and Agency
The recruitment agencies help you gain much use of the ATS and help you seamlessly coordinate while handling the data online. It helps you handle many Excel sheets and emails and take appointments and notes on a single platform.
Better Overviewing of Applications
This automated tool helps you keep the documents in your recruitment database that helps you keep the necessary details you need in one location. It helps you easily switch between the apps and compare the candidates without leaving the system. It helps you select and scan candidates and helps you make things easy regarding receiving applications and working on the same.
Easy Way of Job Posting
This automated software helps you upload job openings on diverse platforms with a single click. In addition, it allows you to integrate the careers page on the website and automatically provides you with traffic for job openings.
Improved Cost Per Hiring
This ATS tool helps you improve the recruiter’s sourcing and helps you make up for the cost. In addition, it helps you to transform the recruits on a daily basis.
Improved Hiring Quality
80% of the recruiters claim to improve hiring quality in the business. It helps speed up the recruitment process and helps you grab talented candidates and poach by the competitors.
Improved Inter-Departmental Communication
The ATS helps you with improved communication among the team members and allows you to send messages quickly. It helps you to schedule emails and assign tasks in an organized way. ATS tool is integrated into the system seamlessly with less use of paperwork and in an organized way.
Fast and Better Decisions
The ATS tool helps you with onboarding new hires for the client, and it helps you reduce wrong decisions in the organization. It helps you provide complete access to the applications and helps in making fast and better decisions. Reports have shown that 86.1% of the ATS helps you increase speed while making new hires. Along with this, it also allows the recruiter’s confidence to make data-driven decisions.
Promoting Collaborative Hiring
Collaborative hiring allows your company to have an organized approach to developing talented and diverse teams. It helps you easily collaborate at work. Along with this, it allows the HR departments to allow the agency recruiters to exchange feedback and reviews on each candidate, which helps you lead towards making decisions.
Generating Important Insights of Recruitment
The ATS tool provides real-time reports such as time spent in each interview stage, candidate rejection, and employee resignation patterns. Each of these metrics helps you understand the processes working, which helps you take timely actions to generate meaningful insights into recruitment.
To Conclude
The ATS tool helps you with easy and fast communication among hiring managers. It also helps you protect candidates and employers from the risks of unconscious biases. The e-recruitment tool provides a solution to source candidates’ leads to the hiring funnel. It helps you find the most suitable candidates and attract the talents to complete the job applications.
